Hi, Brooks, Thank you for your additional information,
I do not see anything favorable for you in signing a Quit Claim Deed to your ex-girlfriend. You would be giving her complete title to the property, but you would still be liable on the mortgage note. She would not be able to pay you for the down payment you made on the house since she does not qualify for a mortgage loan. Worse still, pretty much all notes and mortgages have a "Due on Sale" clause which means that the lender can call in the full amount of the mortgage loan balance if you transfer title to the property.
While I appreciate the fact that you want to be fair, I cannot see any way that you could transfer title to her and be fair to yourself because she will own the property and you will be stuck making the monthly mortgage payment, until the lender finds out about the transfer, then the loan will be immediately payable in full. In such event , you would not even be able to sell the property because it will be in your ex-girlfriend's name,
Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,
Bonus and Positive Feedback on survey is very much appreciated,
(1) You would still be liable under the mortgage note;
(2) She would not be able to buy your interest out since she does not qualify for a mortgage loan